The revised Phase VII Budget and Guidance table, which corrects and
replaces the earlier released Phase VII Budget and Guidance table, is
included below:

Approved Phase VII Budget & Guidance

12 Months ending March 31, 2015

Average Production

(mmcfe/d)

134 to 139

Royalty Rate

(%)

5% to 6%

Operating Costs

($/mcfe)

$0.25 to $0.30

Capital Expenditures

($ million)

$260 to $270

Wells Drilled (net)

Dry gas

20

Liquids rich gas

13

Total

33

Upon completion of Phase VII, production in the second quarter of 2015
is expected to grow to 183 mmcfe/d including 900 to 1,100 bbls/d of
NGLs.

Advisory

The information in this press release contains certain forward-looking
statements, including within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These statements relate to
future events or our future intentions or performance. All statements
other than statements of historical fact may be forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "demonstrate", "expect", "may", "will",
"project", "predict", "potential", "targeting", "intend", "could",
"might", "should", "believe", "would" and similar expressions and
include statements relating to, among other things, expected number of
future drilling locations; expectations as to reserves life;
anticipation that some of our new Phase VII wells will be brought on
production in early 2015; expected timing of achieving Advantage's
Phase VII production target; expectation of increases in production
resulting from Advantage's Glacier three year development plan;
expected increases to cash flow per share; expectations of future debt
to cash flow ratios; expected timing for commencement of Glacier Phase
VII program; and details of Advantage's Glacier Phase VII capital and
operating budget including expectations of average production rates,
end of Phase VII production rate, royalty rates, operating costs,
capital expenditures and number of wells drilled. In addition,
statements relating to "reserves" or "resources" are deemed to be
forward-looking statements, as they involve the implied assessment,
based on certain estimates and assumptions that the resources and
reserves described can be profitably produced in the future.

Advantage's actual decisions, activities, results, performance or
achievement could differ materially from those expressed in, or implied
by, such forward-looking statements and accordingly, no assurances can
be given that any of the events anticipated by the forward-looking
statements will transpire or occur or, if any of them do, what benefits
that Advantage will derive from them.

These statements involve substantial known and unknown risks and
uncertainties, certain of which are beyond Advantage's control,
including, but not limited to: changes in general economic, market and
business conditions; industry conditions; actions by governmental or
regulatory authorities including increasing taxes and changes in
investment or other regulations; changes in tax laws, royalty regimes
and incentive programs relating to the oil and gas industry; the effect
of acquisitions; Advantage's success at acquisition, exploitation and
development of reserves; unexpected drilling results; changes in
commodity prices, currency exchange rates, capital expenditures,
reserves or reserves estimates and debt service requirements; the
occurrence of unexpected events involved in the exploration for, and
the operation and development of, oil and gas properties, including
hazards such as fire, explosion, blowouts, cratering, and spills, each
of which could result in substantial damage to wells, production
facilities, other property and the environment or in personal injury;
changes or fluctuations in production levels; delays in anticipated
timing of drilling and completion of wells; individual well
productivity; competition from other producers; the lack of
availability of qualified personnel or management; credit risk; changes
in laws and regulations including the adoption of new environmental
laws and regulations and changes in how they are interpreted and
enforced; our ability to comply with current and future environmental
or other laws; stock market volatility and market valuations;
liabilities inherent in oil and natural gas operations; uncertainties
associated with estimating oil and natural gas reserves; competition
for, among other things, capital, acquisitions of reserves, undeveloped
lands and skilled personnel; incorrect assessments of the value of
acquisitions; geological, technical, drilling and processing problems
and other difficulties in producing petroleum reserves; ability to
obtain required approvals of regulatory authorities; and ability to
access sufficient capital from internal and external sources. Many of
these risks and uncertainties and additional risk factors are described
in the Corporation's Annual Information Form which is available at www.sedar.com and www.advantageog.com. Readers are also referred to risk factors described in other documents
Advantage files with Canadian securities authorities.

With respect to forward-looking statements contained in this press
release, Advantage has made assumptions regarding: conditions in
general economic and financial markets; effects of regulation by
governmental agencies; current commodity prices and royalty regimes;
future exchange rates; royalty rates; future operating costs;
availability of skilled labor; availability of drilling and related
equipment; timing and amount of capital expenditures; the impact of
increasing competition; the price of crude oil and natural gas; that
the Corporation will have sufficient cash flow, debt or equity sources
or other financial resources required to fund its capital and operating
expenditures and requirements as needed; that the Corporation's conduct
and results of operations will be consistent with its expectations;
that the Corporation will have the ability to develop the Corporation's
crude oil and natural gas properties in the manner currently
contemplated; current or, where applicable, proposed assumed industry
conditions, laws and regulations will continue in effect or as
anticipated; and the estimates of the Corporation's production and
reserves volumes and the assumptions related thereto (including
commodity prices and development costs) are accurate in all material
respects.

These forward-looking statements are made as of the date of this press
release and Advantage disclaims any intent or obligation to update
publicly any forward-looking statements, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.

Barrels of oil equivalent (boe) and thousand cubic feet of natural gas
equivalent (mcfe) may be misleading, particularly if used in isolation.
Boe and mcfe conversion ratios have been calculated using a conversion
rate of six thousand cubic feet of natural gas equivalent to one barrel
of oil. A boe and mcfe conversion ratio of 6 mcf: 1 bbl is based on an
energy equivalency conversion method primarily applicable at the burner
tip and does not represent a value equivalency at the wellhead. Given
that the value ratio based on the current price of crude oil as
compared to natural gas is significantly different from the energy
equivalency of 6:1, utilizing a conversion on a 6:1 basis may be
misleading as an indication of value.

The following abbreviations used in this press release have the meanings
set forth below:

bbls

barrels

mbbls

thousand barrels

mmbbls

million barrels

boe

barrels of oil equivalent of natural gas, on the basis of 1 barrel of
oil or NGLs for 6 thousand cubic feet of natural gas

mboe

thousand barrels of oil equivalent

mmboe

million barrels of oil equivalent

mcf

thousand cubic feet

mmcf

million cubic feet

bcf

Billion cubic feet

tcf

trillion cubic feet

mcfe

thousand cubic feet equivalent on the basis of 6 thousand cubic feet of
natural gas for 1 barrel of oil or NGLs